─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Upshire

If you run a very small UK limited company, FRS 105 Micro Entity Accounts may be the simplest and most streamlined way to prepare and file your annual financial statements. FRS 105 is the financial reporting standard that sits behind the micro-entities regime, and it applies where a company qualifies for that regime and actively chooses to use it. Because the regime is optional and eligibility depends on a company’s size and its individual circumstances, professional preparation is about much more than filling in a template. We work with companies in Upshire and the surrounding area to review the financial records, confirm whether the micro-entities regime is appropriate, and prepare FRS 105 Micro Entity Accounts that reflect the business properly, using the reduced disclosure and simplified measurement rules the standard allows. Where a company does not qualify, or where the directors prefer a different framework, we can discuss the alternatives, including FRS 102 and the small companies regime, so the decision is made with clear information rather than assumption.

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FRS 105 Micro-Entity Accounts

(Turnover up to £100K)

£499.00

£399.00

+vat

FRS 105 accounts preparation
Accounting records review
Micro-entity eligibility review
Companies House filing where applicable
Corporation Tax support where included
Director review
FRS 105 accounting support

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Trusted by Micro-Entity Businesses Across the UK

From newly incorporated companies to established owner-managed businesses, our clients trust us to prepare their accounts accurately and handle their annual filing requirements.

      EXCELLENT  
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   Jamie Fletcher 
 
 
 
 Trustindex verifies that the original source of the review is Google. It was a pleasure working with Anum on our accounts. The whole process was swift and effortless, and it was one less thing to worry about. I'd highly recommend them.
  
 
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 Trustindex verifies that the original source of the review is Google. Accotax have been our accountants for many years now. We maintained them, because of their professionalism. In the last coiple of years, i have working with Imran, who has been very professional and helpful in guiding us through the whole process explaining and clarifying every aspect of it. Very prompt in responding to questions and patient with us even when we seem to be slow. I really enjoy working with him. Thank you
  
 
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   Muna Mohamoud 
 
 
 
 Trustindex verifies that the original source of the review is Google. I highly recommend Imran to anyone looking for a reliable and knowledgeable accountant. He helped me sort out a very complicated backlog of accounts and prepared my overdue tax returns with professionalism and attention to detail. Throughout the process, he was incredibly patient, took the time to answer all of my questions, and explained everything clearly. He guided me through each step and helped rectify issues that had built up over time, making what felt like an overwhelming situation much more manageable. I'm very pleased with the service I've received and truly appreciate his support. If you need help with your accounts or taxes, I would highly recommend Imran.
  
 
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 Trustindex verifies that the original source of the review is Google. I had a positive experience with Accotax. The work was completed promptly, my tax return was successfully filed, and I received a refund of overpaid tax. I found the cooperation efficient and helpful. Special thanks to Muhammad Saifullah for his assistance.
  
 
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 Trustindex verifies that the original source of the review is Google. Fabulous team at ACCOTAX - very efficient and good response time . Honest and professional with their work. I would highly recommend them even if you’re a young start up - or a large business they have it covered .
  
 
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   Mael Leboucher 
 
 
 
 Trustindex verifies that the original source of the review is Google. We worked with a few different accountants before finally settling with Accotax, and we’re really glad we did. Their team is great. Abdul is responsive and easy to reach whenever I have a question, which makes a big difference. They take the time to understand how our business works and what our needs are. They are very knowledgeable, and when they don’t have the answer straight away, they take the time to look into it and get back to us quickly. Anum, who looks after our account on a day-to-day basis, including reconciling invoices and preparing the annual accounts, is amazing. She is professional, efficient, and follows the processes we have put in place together. She's also very quickin getting back to us whenever needed. We’re very happy to work with her and hope to continue doing so for as long as possible. Overall, Accotax has made our accounting experience much smoother and easier. We see them as a long-term partner as our business continues to grow. I would 100% recommend them.
  
 
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 Trustindex verifies that the original source of the review is Google. Imran provides a very dependable and straightforward accounting service. He is always responsive and professional when managing our accounts. Excellent support.
  
 
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   Martin Tyrrell 
 
 
 
 Trustindex verifies that the original source of the review is Google. I have really impressed to date with all dealings with Accotax highly enough. From day one, they've made what can often be a complicated and stressful part of running a business feel straightforward and hassle-free. A special mention has to go to Anum, who has been friendly, incredibly responsive, and genuinely cares about providing the best possible service. No question is ever too much trouble, and she consistently goes above and beyond to make sure everything is dealt with efficiently. I wouldn't hesitate to recommend you to anyone looking for an accountant they can genuinely trust.
  
 
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─── FRS 105 EXPLAINED

FRS 105 Explained: What It Means for Small Companies

FRS 105 is the UK financial reporting standard for micro-entities — the smallest category of company recognised under UK company law. It is a simplified framework, deliberately shorter and less detailed than FRS 102, and it is closely tied to the micro-entities regime. In practical terms, a qualifying company that chooses to apply the micro-entities regime prepares its annual financial statements under FRS 105, which generally means fewer notes to the accounts, simpler measurement of assets and liabilities, and a set of accounts focused on the essentials: the balance sheet, and a small amount of supporting disclosure. It is not a tax regime, and it is not the same thing as a Corporation Tax Return. FRS 105 governs how the accounts themselves are prepared and presented; the CT600 is a separate filing made to HMRC to report taxable profits. Choosing the micro-entities regime is a decision for the directors, and it should be made on the basis of the company’s actual circumstances, its size, and any exclusions that may apply, rather than simply assumed because the business is small.

Who Can Use FRS 105 in the UK?

FRS 105 in the UK is intended for companies that qualify for the micro-entities regime and then decide to apply it. Size is the starting point. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the following 3 applicable conditions: turnover of no more than £1 million, a balance sheet total of no more than £500,000, and an average of no more than 10 employees over the period. Those conditions are not the whole story, however. Certain companies are excluded from the micro-entities regime regardless of size — for example, some entities regulated in the financial services sector — and other eligibility rules and exclusions can apply depending on the company’s activities and structure. Meeting 2 of the 3 size conditions does not by itself guarantee that a company qualifies, and it certainly does not mean the regime has to be used. Eligibility should be assessed on the company’s actual circumstances, and the directors should make an informed choice between FRS 105 and the alternatives before the accounts for the period are prepared.

A company generally needs to meet at least 2 of these 3 conditions.

Business Turnover

Annual Turnover of £1 Million or less. (£632,000 previously)

Balance Sheet

Balance sheet total of £500,000 or less.(£316,000 previously)

Company Size

On an average 10 or less employees (10 or less previously)

─── What We Review

Everything Your Micro-Entity Company Is Required to Get Right

Most compliance problems are not deliberate. They come from a missed deadline, an accounts template that no longer matches FRS 105, or dividends taken without the paperwork to support them. Our review covers each area in turn and reports back in plain English.

FRS 105 Balance Sheet

A statutory balance sheet prepared to the FRS 105 format, using the reduced disclosure the micro-entities regime allows.

Profit & Loss Account

A profit and loss account prepared for your own records and for your Corporation Tax computation, without public filing.

Required Notes & Disclosures

Preparation of the notes and disclosures required for the company's accounts under the applicable reporting requirements.

Corporation Tax Support

Separate Corporation Tax support can be provided where included in the agreed service. The Corporation Tax calculation is governed by tax rules rather than FRS 105.

Companies House Filing

Your FRS 105 accounts filed with Companies House in the correct format, before your accounts filing deadline.

Director Copy Pack

A full signed copy of your accounts and tax return, ready for your bank, mortgage lender or accountant records.

─── How It Works

How Our FRS 105 Preparation Process Works

Share Your Records

Send your bank statements, sales and purchase records, expenses and payroll details through our secure digital platform.

We Prepare Your FRS 105 Accounts

Our accountants confirm you qualify for the micro-entities regime, then prepare your accounts and CT600 from your records.

Review & Approve

We send draft accounts with clear explanations of the figures, and adjust anything before anything is submitted.

We File Where Required

Once approved, we can assist with the relevant Companies House filing and any separately agreed tax submission.

─── WHY CHOOSE US

Why Choose Our FRS 105 Accountants?

We keep micro-entity accounts straightforward, transparent and easy to manage for busy company directors.

FRS 105 Accounts Support

The micro-entities regime is all we do, so your accounts are prepared to the right standard first time.

Paperless Onboarding

Get set up in minutes with a fully digital, secure process — no printing, posting or office visits.

Deadline Management

We track your Companies House and HMRC deadlines and prompt you early so late filing penalties are avoided.

Clear, Transparent Pricing

One transparent fixed fee covers preparation, the tax return and both filings. No hourly billing.

─── WHO WE HELP

FRS 105 Support for Micro-Entities Across the UK

From one-director businesses and freelancers to startups, consultants and online businesses that qualify for the micro-entities regime.

One-Director Companies

Straightforward FRS 105 accounts and Corporation Tax filing for owner-managed limited companies.

Freelancers & Contractors

Accounts and compliance support for contractors trading through a qualifying limited company.

Startups & Small Companies

Practical support for newly incorporated companies filing their first set of micro-entity accounts.

Dormant & Low-Activity Companies

Dormant company accounts and FRS 105 accounts for LLPs that meet the micro-entity thresholds.

Professionally Prepared FRS 105 Micro Entity Accounts with Accurate Financial Reporting

FRS 105 Micro Entity Accounts should be built from accurate, well-maintained financial records. Our role is to take the bookkeeping information you provide — bank transactions, sales and purchase records, expense details, asset purchases, director loans and similar — and translate it into a set of financial statements prepared under FRS 105, applying the recognition, measurement and disclosure requirements that go with the micro-entities regime. We keep the preparation of the financial statements distinct from the wider filing picture, because they are separate obligations. The accounts themselves may need to be filed with Companies House, while Corporation Tax is reported to HMRC through a CT600, and the Confirmation Statement is a further, separate filing. We can support you across these areas or focus purely on the accounts, depending on what you need. What we do not do is promise a particular outcome: whether accounts are accepted, and whether the micro-entities regime is the right framework for you, depends on your company’s circumstances and on the requirements that apply to it.

ICAEW

ACCA

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Get Help with Your FRS 105 Micro Entity Accounts in Upshire

If you would like straightforward support with FRS 105 Micro Entity Accounts, the next step is a conversation. Tell us about your company — what it does, how it is structured, roughly how it trades and what records you already keep — and we can consider whether the micro-entities regime is likely to be suitable, or whether another framework may fit better. Bring your figures, your previous accounts if you have them, and any questions about how FRS 105 interacts with your Companies House filing and your Corporation Tax obligations. We will explain what information we need, how the process works and what our options look like, including clear, transparent pricing. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements.

─── FAQs

FRS 105 Accounts Preparation FAQs

Still unsure where you stand? Reach out to our UK team at info@microentityaccounts.co.uk and we will review your filing history with you.

What is FRS 105?

FRS 105 is the UK financial reporting standard that applies to micro-entities. It is a simplified accounting framework, and it is the standard a qualifying company uses when it chooses to apply the micro-entities regime. Compared with FRS 102, FRS 105 involves fewer disclosures and simpler measurement rules, which is why it is attractive to very small companies that want their annual accounts to be as clear and uncomplicated as the law allows.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and then choose to apply it. Qualifying is not automatic and is not based on size alone — certain companies are excluded from the regime, and other eligibility rules apply. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable conditions: turnover of no more than £1 million, a balance sheet total of no more than £500,000, and an average of no more than 10 employees. Meeting those conditions does not automatically guarantee eligibility, so the position should always be checked against your own circumstances.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an accounting regime that is available to qualifying companies, not one that is forced upon them. A company that qualifies can choose whether to apply it. Some directors prefer the slightly fuller disclosure that comes with the small companies regime under FRS 102, particularly where a lender, investor or customer expects more detail in the accounts. The decision is a matter for the directors, and it is worth reviewing rather than treating FRS 105 as the default.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 102 is the standard used by small companies and larger entities, with more detailed measurement and disclosure requirements. FRS 105 is the micro-entities standard and is deliberately lighter: fewer notes, simpler measurement, and a more condensed set of financial statements. Choosing between them usually comes down to eligibility, the level of detail the accounts need to convey, and whether anyone relying on the accounts requires more information than FRS 105 provides.

Do FRS 105 accounts need to be filed with Companies House?

Where a company prepares accounts under FRS 105 and its accounts are required to be filed, those accounts normally form the basis of the filing made to Companies House. The filing obligation and the accounting framework are two separate things, however, and the position can differ depending on the company. Small and micro-entity filing requirements are also subject to ongoing change, so it is sensible to confirm the current position for your company before you file.

Is a Corporation Tax Return (CT600) separate from FRS 105 accounts?

Yes, they are entirely separate. FRS 105 relates to the accounting and financial reporting framework used to prepare the company's financial statements. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. The figures in the accounts are usually the starting point for the tax return, but the two documents serve different purposes, go to different bodies, and follow different rules.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 for its first set of accounts if it qualifies for the micro-entities regime and the directors choose to apply it. In the first period a company may not have a full prior-year comparison, and forecasting whether it will stay within the size conditions can be difficult. It is worth reviewing eligibility as the company grows, because a company that moves beyond the micro-entity conditions in later periods may need to change framework.

What information is needed to prepare FRS 105 Micro Entity Accounts?

As a starting point we would usually need your bookkeeping records for the period, details of sales and purchases, bank and cash records, details of any assets bought or sold, amounts owed to and by the company, director loan movements, and details of any loans or share capital. If accounts have been prepared before, the previous year's figures help. The more complete and organised the records, the smoother the process — and good records also make it easier to spot anything that needs clarifying before the accounts are finalised.

Are there changes coming to how micro-entity accounts are filed?

Yes. Company filing requirements have been under review and reform, and the information that small and micro-entity companies are expected to file with Companies House is changing over time. This can affect how much of the accounts — including profit and loss information — needs to be filed, and it makes the interaction between your accounting framework and your filing obligations worth checking each year. Because the detail and timing of these changes can shift, we would always confirm the current position that applies to your company before filing.